42.

THE POWER OF PROTOTYPING

What Is a Prototype?
A prototype is a test version of a product that a team puts together to examine the viability of a
new idea. It should be functional enough
that it can convey its purpose to team members, potential customers, and outside investors, as
well as demonstrate how the product will
interact with the real world and how it will appeal to an audience.
A prototype is a functional, not final version of a product or service that businesses can use for
testing, to solicit feedback, and to
introduce to investors before officially launching to a wider market.
Prototyping is one of the best ways to gain insight into your product during the Design process.
It involves creating a basic version of your
1.What is meant by crowdfunding? product to bring to life the idea, test the idea and start iterating and improving it straight away.
Crowdfunding: Raising funds for a project or venture by collecting small contributions from a This enables idea development without
large number of people, typically via online platforms. laying out too much time and money.
2.Define EPI. ? IMPORTANCE OF PROTOTYPING ?
EPI (Entrepreneurial Performance Index): A measure to assess the performance of One of the biggest mistakes entrepreneurs who want to build a startup make is that they don't
entrepreneurship in a specific area or organization. create a roadmap or prototype. Without a
3.4P's in Marketing: Product, Price, Place, Promotion. prototype, you can end up going down an unclear and expensive path when you're developing
4. What is entrepreneurship? your product.
Entrepreneurship: The process of identifying opportunities, organizing resources, and taking Low-cost in terms of time and money, prototypes are a key part of the design process and offer
risks to create and grow a business. quick, low-risk input from users, investors
5. List the elements of Value Pyramid. ? and other stakeholders which can validate your initial business idea (or not). Put simply,
Elements of Value Pyramid: Functional, Emotional, Life-Changing, and Social Impact values. prototyping enables you to understand your own
6. Draw the flow chart of Innovation Cycle. ? proposed product designs better.
Idea Generation → Concept Development → Prototype → Testing → Implementation → ▪ Aids in the evaluation of the final design
Scaling. ▪ Determines potential interest in a new product line
7. What is meant by turnover? ▪ Informs the manufacturing process for a new product
The total revenue or sales generated by a business within a specific period. ▪ Builds the marketing language for a new launch
8.What is TAM? ▪ Creates support for investment
(Total Addressable Market): The overall revenue opportunity available for a product or service There are 3 levels of prototyping - from basic to advanced ?
in a market. ➢ Low fidelity prototypes: A basic 'paper' prototype of how the prototype might be used in
9. List the types of entrepreneurships - based on enterprises. ? the final design.
Types of Entrepreneurships (Based on Enterprises): Small-scale, Medium-scale, Large-scale, Some examples would be storyboarding or sketching. This is a great way to get ideas out of
and Micro-enterprises. your head and on to paper.
10. Who are the key partners? ➢Medium fidelity prototypes: Limited functionality but does include clickable areas,
Key Partners: Individuals or organizations that collaborate to help a business achieve its goals, navigations, and interactions that you would usually make on an app, this might be made with
such as suppliers, investors, distributors, or strategic alliances. powerpoint or a programme you already have.
11. Roles of an Entrepreneur: ? ➢High fidelity prototypes: The fancy prototypes and the one which bring the most value.
Innovator Clickable prototypes that operate much closer to the end Product. It could be an early version
Risk-taker of a design program or an app that can be thoroughly tested.
Decision-maker
Leader
Resource allocator
12. Define marketing. ?
Marketing: The process of promoting, selling, and distributing a product or service to meet
customer needs and generate value.
13. What is brand strategy?
Brand Strategy: A long-term plan to establish and differentiate a brand in the market, focusing
on its identity, positioning, and emotional connection with customers.
14. Give short notes on B2B model. ?
B2B Model: Business-to-Business (B2B) is a model where businesses sell products or services
directly to other businesses rather than consumers. Examples include wholesale suppliers and
software companies serving enterprises.
15. Role of business model ?
• technical input • business model • Economic outputs
16. How to market your brand?
Find it , Build it , Liquid it.
17. Brand elements. ?
Logo, Typography, Color, Grids, Tiles, Photography, Illustration, Icons
18. what is branding ?
Branding is not only about visuals.
• Branding is all things together; the way you look, the way you behave, the way you
communicate with and the way you influence.
• 60% of your brand is visual. People care about first impression.
19. A SUCCESSFUL STEPS TO BUILD YOUR BRAND ?
• Integrated communication.• Choose a noble positioning.
• Strict adherence to corporate identity guidelines.• Strategize • Measurement and evaluation.
20. Successful marketing best practice. ?
1. lake it personal.
• Team Work.• Loyalty. • Talent than discipline.
2. Dig for real insights.
• Customer will figure out your artificial insights. • Create culture.
• Don't become so afraid of edging. • Choose a platform. • It will be linked to customers.
• Hitting the right nerve.
21. Liquid & linked ?
Your idea not made to suit a specific medium. It have to be much liquid to suit all media and
link it together. TV, Social network, E mail, Radio, Physical, etc.
22. The E-Marketing concept. ?
Refer to he use of internet and digital media capabilities to help sell your product or
service.
Internet Marketing, Online Marketing, Web Marketing are all named E Marketing.
23.design thinking ?
• Empathize ❑Define ❑Ideate ❑Prototype ❑Test
24. 7 steps of effective decision making ?
• identity the decision • gather information • identify alternatives • weigh the evidence
• choose among alternatives • take action • review your decision